Following the lead set by Shanghai's free trade zone (FTZ), the State Council approved at the end of 2014 the establishment of new FTZs in Tianjin, Fujian and Guangdong, and the expansion of the Shanghai FTZ. After four months' preparation, these new FTZs were finally declared open in April this year. Coinciding with the opening, we have also seen the issuance of an updated negative list for foreign investment, a revised national security review rule and overall plans and administrative regulations for each FTZ. These regulations generally follow the model of the Shanghai FTZ with a couple of modifications to adapt for local characteristics.
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